Atlas Brown Inc. Acquires Shares of 19,575 AXT, Inc. (NASDAQ:AXTI)

Atlas Brown Inc. bought a new position in AXT, Inc. (NASDAQ:AXTI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,575 shares of the semiconductor company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Systematic Financial Management LP raised its stake in shares of AXT by 13.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock valued at $3,575,000 after purchasing an additional 169,406 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of AXT by 10.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock valued at $1,468,000 after acquiring an additional 54,891 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AXT by 1.7% during the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock worth $1,123,000 after purchasing an additional 7,577 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of AXT by 1,142.1% in the second quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock worth $1,276,000 after purchasing an additional 347,200 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in AXT by 25.1% in the 3rd quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock worth $730,000 after buying an additional 60,623 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Price Performance

NASDAQ AXTI traded down $0.05 during trading on Friday, hitting $2.10. 125,193 shares of the company’s stock traded hands, compared to its average volume of 212,048. AXT, Inc. has a 12-month low of $1.73 and a 12-month high of $5.64. The stock has a fifty day moving average of $2.12 and a two-hundred day moving average of $2.57. The firm has a market cap of $93.98 million, a P/E ratio of -8.40 and a beta of 2.10.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. During the same quarter in the prior year, the company earned ($0.14) earnings per share. As a group, analysts expect that AXT, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AXTI shares. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Northland Securities lowered their price target on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of AXT in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.30.

AXT Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.